Income tax department

The Income Tax Department has started the facility to file ITR-2 form online from 18 July 2025. Now employed taxpayers, who have capital gains, crypto income or any other special income sources. He can file his income tax return online through the Income Tax Department's e-filing portal (https://incometax.gov.in/foportal/).

The Income Tax Department posted on social media that, pay attention to taxpayers! The ITR-2 form is now available for online filing with pre-filled data. The last date for filing ITR for financial year 2024-25 and assessment year 2025-26 is 15 September 2025. Earlier only ITR-1 and ITR-4 forms were available in online and Excel utility, which were for taxpayers with limited income group. However, only Excel utility is available for ITR-3, online facility will start soon.

Who can fill ITR-2?

In the ET report, according to Chartered Accountant Abhishek Soni, co-founder, tax2win, ITR-2 is for the following individuals or Hindu undivided family (HUF).

1. Whose income includes salary or pension.
2. Income from one or more house property.
3. Income from other sources, such as lottery, horse racing, or taxable income at special rates.
4. Those who have investment in non-list equity shares.
5. Director or resident in the company (Ror/RNOR)
6. Capital gains or foreign property/income earned.
7. Agricultural income of more than Rs 5,000.
8. Clubing provision implemented income.
9. Those who have financial interest in property or accounts abroad.
10. Those who wish to take or bring losses from house property.
11. Tax deductions under Section 194N.

What is new this time in ITR-2?

1. Capital Gain- Different schedule (after the change of Finance Act 2024) before and after 23 July 2024 and for later benefits.
2. Loss on share buyback- If dividend income is shown in the income of other sources, then the loss permission (after 1 October 2024).
3. Property and liability- Reporting is mandatory if the total income exceeds Rs 1 crore.
4. Detailed information of cuts- Better reporting for Section 80C, 10 (13A) etc.
5. TDS Code- Reporting TDS section code in schedule-TDS.

Papers required to file ITR-2

According to the Income Tax Department website, the following documents will be required to file ITR-2 form.

1. For salary income- Form 16 was issued by employer, which contains information about salary and TDS.
2. For interest income and TDS Form 16A- Remained by the deed when TDS deductions on interest income from fixed deposit (FD) or savings account. Form 26AS- For TDS verification from salary and other sources, download from e-filing portal.
3. For those living on house rent- Rent Receipts- If you live in a rented house and want to claim HRA (house rent allowance) (if not given to the employer).
4. For capital gains-Summary/profit-loss details of capital gains- In case of transaction in shares or securities, for calculating capital gains.
5. For calculating interest income- Bank Passbook- Interest income information and fixed deposit receipts (FDRS) from savings account, for calculation of interest received from fixed deposits.
6. For income from house property- Description of the tenant- you have to give information about the amount of rent. Local Tax Payment- The receipt of payment of property tax paid on the capital borrowed and interest- if the loan is taken for the house, then the interest information.
7. For damage in the current year- Documents related to loss- relevant documents depicting losses in the current year.
8. For the loss of last year- The ITR-V of the previous year, a copy of the previous year's returns, in which the loss is revealed.
9. For tax exemption claims- Documents of sections 80C, 80D, 80g, 80Gg such as life and health insurance receipts.
   Donation receipts. Fare receipts (for 80GG). Tuition fees receipts and other tax savings investment will have to be given evidence.